5 UN LLAMADO A PRESERVAR NUESTRAS RELACIONES BILATERALES A CALL TO PRESERVE OUR BILATERAL RELATIONS Carlos Tejera El martes 24 de Mayo del 2011, el gobierno de los Estados Unidos impuso sanciones sobre Petróleos de Venezuela S.A., la compañía petrolera estatal. En su comunicado oficial, la cancillería estadounidense determinó que PDVSA había incurrido en actividades que apoyan el sector energético de Irán, lo cual contraviene las resoluciones de las Naciones Unidas y las leyes estadounidenses, especialmente la ley de Sanciones contra Irán del año 1996 (ISA por sus siglas en Inglés), tal como han sido enmendadas en la ley de Sanciones Exhaustivas contra Irán, Asignación de Responsabilidades y Desvío de Dineros del año 2010 (CISADA por sus siglas en Inglés). No hace falta decir que esa acción ha preocupado grandemente a la Cámara Venezolano-Americana de Comercio. La relación entre nuestros dos países se remonta a más de 200 años atrás, y nuestras economías, culturas y valores están estrechamente relacionadas. Los Estados Unidos es, de lejos, nuestro principal socio comercial: el comercio total el año pasado entre nuestros dos países sumó más de $45 mil millones. Cientos de compañías estadounidenses en nuestro país proporcionan productos y servicios esenciales y emplean a miles de venezolanos, mientras que a su vez Venezuela provee un millón de barriles por día de petróleo, muy importante para la población de los Estados Unidos. Desde hace más de sesenta años VenAmCham ha laborado para mantener y reforzar este lazo crítico y nuestra misión enunciada es promover el comercio y las inversiones entre la República Bolivariana de Venezuela y los Estados Unidos de América. Este conjunto de sanciones, tales como las impuestas sobre PDVSA, la compañía más grande de Venezuela, van en contra de nuestro objetivo medular. No es nuestro papel analizar los aspectos políticos y de seguridad nacional derivados de esta medida, dada la naturaleza no política de nuestra cámara. Es importante, sin embargo, ofrecerle a nuestros miembros y al público en general nuestro análisis acerca de cualquier impacto comercial y económico que podrían producirse a partir de estas sanciones. Antes de haberse emitido las sanciones y luego de que fueron aplicadas, nos pusimos en contacto con representantes gubernamentales, legisladores y On Tuesday, May 24th, 2011, the United States Government imposed sanctions on Petroleos de Venezuela S.A., the country s state owned oil company. In its official communication, the US State Department determined that PDVSA had incurred in activities in support of Iran s energy sector that were counter to United Nations resolutions and US laws, namely the Iran Sanctions Act (ISA) of 1996, as amended by the Comprehensive Iran Sanctions, Accountability, and Divestment Act (CISADA) of Needless to say, this action is of great concern to the Venezuelan American Chamber of Commerce. The relationship between our two countries stretches back for more than 200 years, and our economies, cultures and values are closely linked. The US is by far our principal trade partner: last year s total commerce between our two countries totaled more than $45 billion. Hundreds of US companies in our country provide essential products and services, and employ thousands of Venezuelans, while in turn Venezuela provides a million barrels per day of essential oil to the people of the United States. For over sixty years, Venamcham has worked to maintain and strengthen this critical bond, and our stated mission is to promote commerce and investment between the Bolivarian Republic of Venezuela and the United States of America. Blanket sanctions like those imposed on PDVSA, the largest company in Venezuela, go against this core objective. It is not our role to analyze the political and national security aspects of this measure, given the non-political nature of our chamber. It is important, however, to provide our members and the public in general with our analysis of any commercial and economic impact that these sanctions could bring about. Prior to the sanctions taking place, and also after they were applied, we contacted Government representatives, legislators and experts from both countries to understand the sanctions, their consequences, and what can happen going forward. First, a very brief history of the legal framework involved. The UN Security Council has adopted six resolutions dealing with concerns about Iran, four of which impose sanctions on that country. Building on these sanctions, the United States approved the Iran Sanctions Act ( ISA ) in 1996, which was enacted to try to deny Iran the resources to further its nuclear program and to support terrorist organizations. Originally, ISA required the President to sanction companies that made an investment of more than $20 million in one year in Iran s energy sector, or that sold to Iran weapons of mass destruction technology or advanced conventional weapons. Subsequently, in July 2010, a new statute, the Comprehensive Iran Sanctions, Accountability and Divestment Act ( CISADA ), amended ISA to try to curtail additional types of activity, such as selling gasoline and gasoline production-related equipment and services to Iran, and to restrict international banking relationships with Iran. 4 MAYO / JUNIO 2011

7 Desde el punto de vista objetivo, el impacto de estas sanciones es bajo y no menoscaban la capacidad de PDVSA para operar ni que las ganancias petroleras sigan fluyendo. US Eximbank ha estado cerrada a Venezuela desde hace unos cuantos años; las procuras gubernamentales estadounidenses ganadas por PDVSA son mínimas y la prohibición sobre la obtención de licencias de exportación se limitan a dos listas de productos de alta tecnología muy específicos. A la fecha de escribir esta editorial, nuestra percepción es que ambos países están manejando el incidente con el cuidado y la precaución que amerita esta delicada situación. Consideramos que el gobierno venezolano ha reaccionado de forma comedida a las sanciones; están siendo muy cuidadosos acerca de las relaciones petroleras bilaterales y esta reacción sobria ha traído tranquilidad a todas las partes. Los Estados Unidos ha tenido que actuar tal como lo exigen sus leyes y las resoluciones del Consejo de Seguridad de las Naciones Unidas, pero las sanciones elegidas son las que menos impactan las relaciones binacionales. Sin embargo, este equilibrio es precario. Esta es, al fin y al cabo, la primera vez que las compañías han sido sancionadas según la ISA, y los tratos de PDVSA con otras compañías foráneas podrían verse afectadas. Nuestro estatus como proveedor estratégico de petróleo para los Estados Unidos podría verse cuestionado: Venezuela ya no es capaz de ofrecer una capacidad de producción que pueda marcar una diferencia y los Estados Unidos ahora activamente busca alternativas tales como el crudo canadiense entregado por oleoducto a nuestro mercado clave, la costa del golfo en los Estados Unidos, los bio-combustibles y otras opciones. En tan sólo los dos últimos años los Estados Unidos ha reducido su consumo en más de un millón de barriles por día, lo cual es equivalente a nuestras exportaciones petroleras totales desde Venezuela hacia ese país. Por lo tanto, es de extrema importancia que se aclare y se estabilice la relación entre nuestros dos países y que volvamos a detentar nuestra posición histórica como proveedor seguro de petróleo y socio comercial. En VenAmCham, hacemos un llamado a los gobiernos y a los líderes de nuestras dos naciones para que trabajen conjuntamente a fin de evitar comprometer una historia de dos siglos de intereses compartidos, estrechas relaciones comerciales y cooperación mutua. Cualquier interrupción en nuestros suministros energéticos a nuestro mayor cliente abre la oportunidad para que otros exportadores de petróleo incrementen su participación en el mercado, a expensas de Venezuela, en nuestro mercado natural y de más alta rentabilidad. Cualquier merma en nuestra más larga relación comercial podría impactar a los consumidores venezolanos y los puestos de trabajo en los Estados Unidos, y abriría la puerta a otras naciones quienes estarían felices de ocupar el lugar de los Estados Unidos como primeros proveedores de bienes y servicios a los mercados venezolanos. Creemos que este es el momento oportuno para revivir los grupos de amistad parlamentaria que en el pasado, bajo el nombre del Grupo de Boston, reunió a diputados, senadores y representantes de ambos países y el cual ofreció un terreno común para debatir temas y aclarar posturas. Y nosotros en VenAmCham estamos dispuestos a realizar nuestros mayores esfuerzos, en ambos países y a todos los niveles, para preservar la relación comercial más importante para Venezuela. ISA/CISADA requires the imposition of at least three out of the following nine sanctions: 1. denial of Export-Import Bank loans, credits, or credit guarantees for U.S. exports to the sanctioned entity; 2. denial of licenses for the U.S. export of military or militarily useful technology to the entity; 3. denial of U.S. bank loans exceeding $10 million in one year to the entity; 4. if the entity is a financial institution, a prohibition on its service as a primary dealer in U.S. government bonds; and/or a prohibition on its serving as a repository for U.S. government funds (each counts as one sanction); 5. prohibition on U.S. government procurement from the entity; 6. restriction on imports from the violating entity, in accordance with the International Emergency Economic Powers Act; 7. prohibitions in transactions in foreign exchange by the entity; 8. prohibition on any credit or payments between the entity and any U.S. financial institution; 9. prohibition of the sanctioned entity from acquiring, holding, or trading any U.S.- based property. The sanctions the State Department have imposed on PDVSA prohibit the company from competing for U.S. government procurement contracts, from securing financing from the Export-Import Bank of the United States, and from obtaining U.S. export licenses, i.e. sanctions 1, 2 and 5 from the list. These sanctions do not apply to PDVSA subsidiaries, including CITGO, and do not prohibit the export of crude oil to the United States. Objectively, the impact of these sanctions is low, and does not impair PD- VSA s abilities to operate or for oil revenues to continue to flow. US Eximbank has been closed to Venezuela for many years, the US government procurements from PDVSA are negligible, and the prohibition on export licenses are limited to two lists of very specific high technology items. As of this writing, we perceive that both countries are handling the incident with the care and caution that this delicate situation requires. We consider that the Venezuelan Government has reacted in a measured way to the sanctions; they are being very careful about the bilateral oil relation, and this sober reaction has been reassuring to all parties. The United States has had to act as required by its laws and the UN Security Council resolutions, but the sanctions chosen are the ones that could less impact the bi-national relationship. But this is a precarious equilibrium. This is, after all, the first time that companies have been sanctioned under the ISA, and PDVSA s dealings with other foreign companies could be affected. Ours status as strategic oil provider to the US could be in question: Venezuela can no longer provide swing production capacity, and the United States is actively pursuing alternatives such as Canadian crude delivered by pipeline to our key market, the US Gulf coast, bio-fuels and other options. During the last two years alone, the US has reduced its consumption by over a million barrels a day, which is equivalent to our total Venezuelan oil exports to the United States. It is therefore of paramount importance to clarify and stabilize the relationship between our two countries and regain our historic position of secure oil provider and trade partner. As Venamcham, we call upon the governments and leaders of our two countries to work together to avoid jeopardizing a two-century long history of shared interests, tight trade relations and mutual cooperation. Any interruption in our energy supplies to our major customer means an opportunity for other oil exporters to increase their market share at Venezuela s expense, in our natural and highest priced market. Any diminishment in our largest trade relationship can impact Venezuelan consumers and US jobs, and will open the door to other nations who will be happy to take the United States place as prime providers of goods and services to the Venezuelan markets. We believe that this is an opportune time to revive the parliamentary friendship groups that in the past, under the name of the Boston Group, brought together deputies, senators and representatives from both countries, and which provided a common ground and forum to discuss issues and clarify positions. And we at Venamcham are willing to make our utmost efforts, in both countries and at all levels, to preserve Venezuela s most important commercial relationship. 6 MAYO / JUNIO 2011

13 RAZONES DE PREFERENCIA Marcas mencionadas en 1er. lugar. EMOCIONES Y FIDELIDAD Aunque la alegría, el placer y la nostalgia figuran como las tres principales emociones asociadas a las marcas, existen variaciones dependiendo de las categorías. En el caso de los artículos deportivos destaca el orgullo como la principal emoción asociada, los sentimientos de alegría aparecen jerarquizados en las categorías de computación y celulares, mientras ropa y artículos personales son vinculados más directamente al placer. Estos datos pueden ser vistos como indicadores útiles para el diseño de campañas publicitarias, dado que éstas tienen mejores resultados cuando apuntan a los componentes emocionales asociados a cada categoría específica. Es por ello que, por ejemplo, cuando una marca deportiva recurre a imágenes de competencias o metas en sus cuñas, refuerza el sentimiento de esperanza y orgullo por el logro, por lo que alcanza mayor enganche en el público. Las campañas de Polar son un claro ejemplo de empresa que utiliza Far from what was to be expected, luxury brands did not appear in the top of mind of the executives, but rather those that are in their daily lives and with which they have closer emotional connections. The executives spontaneously mentioned many foreign brands preferred by them but also several national brands such as Polar, Harina Pan and El Nacional, which appeared at the top of the recall list. Another novelty of the study this year was having recorded the emotions associated to the preferred brands. Images representing (methodologically validated) emotions were shown and the people in the survey correlated them to their favorite brands. Joy, pleasure and nostalgia arose as the more important emotions in most of the categories, an interesting data to take into account when defining marketing strategies and the nature of the content in effective ad messages. AT THE TOP OF THE LIST The preferred brands mostly belong to the food and beverages category. The ones mentioned were Polar (25%), Coca Cola (16%), Harina Pan (9%), Pepsicola (6%), Kraft (5%) and Minalba (3%). The technology sector was especially valued, with disperse results between Blackberry (10%), Sony (10%), Apple (7%), HP (6%) and Movistar (5%). It is worthwhile mentioning that Blackberry was the only brand of mobile phones that was mentioned in the study, which is congruent with the sales boom achieved by the product nationwide. Its penetration is one of the highest in Latin America, with preponderance in the juvenile target, and its attributes which stood out the most were status and being fashionable. Other categories of high involvement for the executives were automobiles (most mentioned Toyota) and clothing and shoe wear (Nike stood out). Personal hygiene and care products was also an important item, particularly for the women in the sample. What do the executives value when shopping? Although the reasons inspiring buying decisions vary according to the sector or type of product, in general those that prevail are the valuation of quality, trust and presence in the market. Once these aspects have been covered, the executives take into account innovation and the variety of products. Lastly they include the status the products offer them, social relations and other associated benefits such as being fashionable. All this applies especially in the food and beverage sector because in the automobiles, technology and sports articles sectors, the factors of innovation and variety offered by the brands are more relevant. The social aspect of sharing a brand with friends is a value which stood out in the case of the Blackberry and other technological products, whereas having used them in a constant manner throughout time was more 12 MAYO / JUNIO 2011

17 FACTORES QUE HARÍA ESCOGER OTRAS MARCAS A LAS PREFERIDAS DENTRO DE LAS CATEGORÍAS. happiness and pleasure through its ads without setting aside the nostalgia generated by some of its products with longstanding tradition in the country and which remit to our family forebears. Emotions are increasingly more important in marketing strategies especially with the new technologies which offer the possibility of interacting more closely with the consumers and this requires that he brands be more human and closer to their surroundings. Para las marcas Polar y Harina Pan esta es la mayor mención con un 73% y 92% respectivamente COMPORTAMIENTO ANTE LAS MARCAS PREFERIDAS EN CASO DE REDUCCIÓN DE GASTOS La suma de las 3 primeras menciones es de 87% de usuarios que no dejarían de comprar sus marcas preferidas ante una reducción de sus gastos. Casi la mitad de los ejecutivos (47%) recurre al crédito para compras de cierta envergadura, como carros, celulares, equipos de computación, electrodomésticos, artículos deportivos, ropa y calzado. Las tarjetas de crédito son instrumentos de uso habitual para este target, quedando reservadas las de débito para productos que cubren necesidades más básicas: aseo y cuidado personal (50%) y alimentos y bebidas (47%). El uso de cheques como forma de pago es sólo de 2%, lo que demuestra el terreno que ha perdido este instrumento ante las tarjetas de débito. Las compras por internet son bajas y esto se debe fundamentalmente a que el comercio electrónico aún no está difundido en Venezuela. Tampoco existen planes de pago preferencial ofrecidos por las tiendas, a diferencia de otros As previously mentioned, the faithfulness of the Venezuelan executives to their favorite brands is high, since the vast majority stated that they would only choose a different brand if their personal favorites lowered their quality or was not available or increased its price in an exaggerated manner. Even in the eventual need to downsize one s personal budget, the persons interviewed would be willing to continue buying the favorite brands but at a lower frequency or quantity without sacrificing it for others. This (high) executive target was nonchalant about deals, offers, prizes or promotions developed by other brands to seduce them and pull them in, given that only 21% of those interviewed responded that they would choose products for said reasons. HOW DO THEY KNOW AND HOW DO THEY PAY? Traditional media continue to be the way most used by the executives to keep abreast and stay informed as to the brands, especially through the TV, followed by magazines, retail stores and newspapers in that order. The new media such as publicity on the Internet and social networks have a moderate use compared to the traditional channels, but hold a huge potential. According to the study, 36% of the executives view advertising on Internet pages, fundamentally to get information on IT products such as PCs, cell phones and household items. This percentage is interesting and it is projected that this is an upwards trend. Almost half of the executives (47%) resort to credit to buy expensive items such as cars, cell phones, computer equipment, household appliances, sports items, clothes and shoes. Credit cards are usually used by this target, and debit cards are reserved for products that cover more basic needs such as personal hygiene and care products (50%) and food and beverages (47%). The use of checks as a mode of payment is of only 2%, which 16 MAYO / JUNIO 2011

18 MAYO / JUNIO

19 países. Ambas carencias pueden verse como oportunidades de negocio. Por ejemplo, para una tienda podría ser una alternativa interesante invertir en comercio electrónico, con todas las fases del proceso de compra-venta, para que los usuarios encarguen y cancelen los productos en internet y éstos lleguen directamente a sus casas. En cuanto a los lugares de compra, la mayoría de los ejecutivos encuestados recurre a los centros comerciales y a las tiendas especializas en el país (82% del total) y 13% compra en centros comerciales en el exterior. Las compras en internet (6%) son mayoritariamente de productos fuera de Venezuela, vía cupo Cadivi. Este porcentaje es considerable, teniendo en cuenta la gran cantidad de pasos burocráticos que se requiere para que sea habilitado dicho cupo, lo que a su vez refleja el alto interés del target por adquirir productos de proveedores en el exterior. Venezuela es un país que gusta de las marcas y que, incluso, tiende a desarrollar todo un estilo de vida en torno de ellas. Aún en crisis económica, el negocio de las marcas tiene un potencial interesante a ser aprovechado en el país, especialmente por los niveles ejecutivos que actualmente cubren gran parte de sus expectativas fuera de fronteras. LUGARES DE COMPRA DE MARCAS PREFERIDAS. La compra por Internet a proveedores en Venezuela es del 33% del total de compras por Internet. shows the ground this instrument has lost to the debit cards. Internet purchases are low and this is basically due to Electronic trading not yet being well disseminated in Venezuela. Neither are there preferential payment plans offered by stores, unlike the case in other countries. Both gaps can be observed as business opportunities. For example, for a store it could become an interesting alternative to invest in electronic trading, with all the phases of the buying and selling process so that the users can ask for and pay their products online and the purchases arrive directly to their homes. Shopping venues for most of the executives polled are the Shopping malls and retail stores in the country (82% of the total) and 13% buy in shopping malls abroad. Internet purchases (6%) are mostly for products outside of Venezuela, via the Cadivi quota. This percentage is considerable, bearing in mind the large amount of bureaucratic steps that are required for said quota to be activated, which in turn reflects the high interest of this target in acquiring products from vendors overseas. Venezuela is a country that likes its brands and that even tends to develop an entire lifestyle based on them. Even in the midst of an economic crisis, the business of brands has an interesting potential that can be tapped in, especially by the executive tiers which currently cover a large part of their expectations outside our borders. SOBRE LOS EJECUTIVOS VENEZOLANOS La muestra estuvo conformada por ejecutivos (62% hombres y 38% mujeres), mayoritariamente de entre 36 y 50 años, con estudios de postgrado, casados (o viven en pareja), con hijos menores de 18 años. Ver televisión, reunirse con familiares y amigos, leer libros o revistas, ir al cine, hacer deporte e ir a la playa o piscina figuran como sus principales pasatiempos, en ese orden. Más del 80% de los entrevistados manifestó haber comido en restaurantes y visitado centros comerciales en el último mes. REGARDING THE VENEZUELAN EXECUTIVES The sample comprised executives (62% male and 38% female), mostly aged 36 to 50, with postgraduate studies, married (or living as a couple), with children that were 18 years or younger. Watching TV, getting together as a family and with friends, reading books or magazines, going to the cinema, practicing sports and going to the beach or a pool are their principal pastimes, in that order. More than 80% of those interviewed stated that they have eaten at restaurants and visited shopping malls within the past month. 18 MAYO / JUNIO 2011

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